Chico, CA Market Report 5/12/2008
May 12th, 2008 categories: Market Report
Since the last Market Report 4/28/2008:
34 single family homes have sold. 3 Condos have been reported sold.
The average price of Single Family Homes sold: $334,728. Median Price: $293,500. Average Days on Market: 79.
Currently:
425 Single Family Homes and 43 Condos are for sale.
120 Homes are Pending sale. 8 condos are Pending Sale.
The ratio of pending sales to active listings is 28% (down 2% from two weeks ago).
“Upper End” Market Snapshot (Figures for homes sold above $600,000):
1st Quarter 2007.
18 homes sold with an average price of $748,640 and a median price of $738,000. Days on Market, 154.
2nd Quarter 2007.
26 homes sold with an average price of $758,902 and a median price of $756,232. Days on Market, 133.
3rd Quarter 2007.
15 homes sold with an average price of $824,355 and a median price of $765,000. Days on Market, 113.
4th Quarter 2007.
16 homes sold with an average price of $764,403 and a median price of $739,000. Days on Market, 156.
1st Quarter 2008.
12 homes sold with an average price of $769,917 and a median price of $712,000. Days on Market, 165.
April 1, 2008 to current (roughly 1st half of second quarter).
8 homes sold with an average price of $851,000 and a median price of $733,750. Days on Market, 118. Of those homes sold in Chico (excluding one in the Durham area that was listed for $3,000,000 and sold for $1,550,000) the average ratio of sold price to listing price was just a fraction under 95%.
Looking back at the same period 2006 (4/1/2006 to 5/12/2006).
7 homes over $600,000 sold with an average price of $850,000 and a median price of $780,000.
Average price is up slightly this year, compared to two years ago. Median price is down slightly (roughly 6%).
Source: Sierra North Valley Multiple Listing statistics.
That doesn’t sound too bad… Do you think we’re seeing a little light in the real estate market?